Tag: Allegion
Allegion releases second-quarter financial results
August 2, 2022SSN Staff
DUBLIN – Allegion recently released its second-quarter financial results, with a healthy stable outlook for the rest of the year.
The global provider of security products and solutions posted Q2 2022 net revenues of $773.1 million and net earnings of $115.1 million, or $1.30 per share. Excluding charges related to restructuring, acquisition and integration expenses, debt financing, as well as non-operating investment gains, adjusted net earnings were $121.1 million, or $1.37 per share, up...
Allegion completes acquisition of Stanley Access Technologies
July 6, 2022SSN Staff
DUBLIN—Allegion plc, a global security products and solutions provider, has completed the previously announced acquisition of Stanley Access Technologies LLC and assets related to the automatic entrance solutions business from Stanley Black & Decker, Inc. for $900 million in cash.
Access Technologies is a manufacturer, installer and service provider of automatic doors in North America, primarily in the United States and Canada. Its diversified customer base centers on non-residential...
Allegion announces CEO succession
May 31, 2022SSN Staff
DUBLIN—Allegion plc, a leading global provider of security products and solutions, today announced that John H. Stone will succeed David D. Petratis as president and CEO, effective July 11, 2022.
Stone will also become a member of the company’s Board of Directors at that time, and Petratis will serve as executive chairman until his retirement, which is expected by Jan. 2, 2023.
Petratis has led Allegion since its spin-off from the former Ingersoll Rand in 2013, capping off a distinguished...
Allegion to buy Stanley Access Technologies for $900M
April 22, 2022SSN Staff
DUBLIN—Allegion plc, a global security products and solutions provider, has signed a definitive agreement to acquire Stanley Access Technologies LLC and assets related to the automatic entrance solutions business from Stanley Black & Decker, Inc. for $900 million in cash.
When adjusted for approximately $90 million in tax benefits, the purchase price is $810 million on a cash-free, debt-free basis. Reducing the amount paid by the tax benefits, the purchase price represents approximately...
PSA announces sponsors for PSA TEC 2022
April 13, 2022SSN Staff
WESTMINSTER, Colo.—PSA (www.psasecurity.com), the world’s largest consortium of professional systems integrators, has announced the lineup of sponsors for PSA TEC 2022, which will be held in Denver, Colorado, on May 16-19 and virtually on May 24-26.
“We are excited to have an impressive list of sponsors supporting TEC 2022,” said Chris Salazar-Mangrum, PSA’s vice president of technology partners. “PSA TEC is known for its educational lineup, networking events...
SIA announces winners of the 2022 SIA New Products & Solutions Awards
March 28, 2022SSN Staff
LAS VEGAS—The Security Industry Association (SIA) has announced the 2022 winners of the SIA New Products and Solutions (NPS) Awards, the flagship awards program presented in partnership with ISC West recognizing innovative security products, services and solutions.
Top among the winners, who were recognized March 23 during an award ceremony on the ISC West show floor, was Allegion – LCN, receiving the 2022 Best New Product Award.
Since its inception in 1979,...
Women in Security Feature: Erin Mann, Allegion Canada
September 1, 2021Paul Ragusa
YARMOUTH, Maine—As part of Security Systems News’ and the Security Industry Association (SIA) Women in Security Forum’s (WISF’s) continuing series highlighting the contributions of women in security, this month’s feature is on Erin Mann, who is a marketing and strategy manager for Allegion Canada’s multifamily and single-family business.
“I support our sales strategies from a business development standpoint and work closely with my team to identify opportunities...
Allegion acquires European software experts
July 29, 2021SSN Staff
DUBLIN—Allegion, a global security products and solutions provider, has acquired, through its subsidiaries, certain assets of Astrum Benelux B.V. (Belgium) as well as privately held WorkforceIT B.V. (the Netherlands).
Astrum Benelux B.V. and WorkforceIT B.V. are well-established and reputable workforce management technology companies in the Benelux region of Europe. Astrum Benelux B.V. is a long-standing sales, distribution and development partner for both Allegion and its leading European...
Allegion up 26.7 percent in Q2 revenues compared with 2020
July 23, 2021SSN Staff
DUBLIN—Allegion plc, a global provider of security products and solutions, reported second-quarter 2021 net revenues of $746.9 million, a 26.7 percent increase when compared to the prior-year period (up 23.8 percent on an organic basis).
Excluding charges related to restructuring and acquisition and integration, adjusted net earnings were $119.3 million, or $1.32 per share, up 43.5 percent when compared with second-quarter 2020 adjusted EPS of $0.92.
“I’m encouraged by the...
Openpath, Allegion announce new cloud-to-cloud integration
June 4, 2021SSN Staff
CULVER CITY, Calif.—Openpath, a leader in touchless, modern access control and workplace safety automation, annoounced a new cloud-to-cloud integration with Schlage NDE and LE mobile enabled wireless locks from Allegion U.S., a provider of security products and solutions as well as seamless access.
This new integration provides a greater selection of cost-effective security solutions across an organization's entire deployment and makes Openpath one of the only physical access control...